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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Tuesday, October 19, 2004 - Vol. 6 No. 200
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In This Issue:
* COMMENT: Pigs, Porches & Protection
* OFFSHORE: Channels Isles Appeal. Anti-Haven. Malta Ilk. EU.
* WEALTH: Canadian Tax Cut? Phony Report. Metals Racket. Property.
* PRIVACY & RIGHTS: FBI Dodge. 'Your chip, please!' Martha.
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Guest comment is by Derek Sambrook, a member of The Sovereign Society Council of Experts and head of Trust Services SA, a professional trust and offshore service based in Panama.
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COMMENT: Pigs, Porches & Protection
The Sovereign Society sometimes calls me "our man in Panama", and they can be assured that I will not be swapping places with any man in Havana, after visiting that beautiful but battered city recently.
But such experiences do make me appreciate the vibrancy and potential of my home, Panama, the little republic not so many miles away.
Certainly, Panama is humming and for someone like me who thinks an Economist is a publication, rather than a profession, my yardstick of prosperity is basic: 13 Porsches were sold here in Panama in 2002 compared with 51 in 2003. Porsche owners and others, however, will want their assets protected and not held hostage to third party claims. This applies especially to Americans with sizeable assets. In the US, fixation on an individual rights has eventually led to a common belief that, no matter the circumstances, someone else is to blame for an individual's personal adversity. No longer is a plaintiff even required to demonstrate actual injury. In January 2000, the US Supreme Court in Friends of the Earth vs. Laidlaw introduced a standard that permits a plaintiff to claim on the grounds of possible, and not just proven, injury.
This blame game avoids issues such as personal responsibility or self- reliance and is the reason why litigation looms large in everyday life in America today -- alongside the war on terror is a war on error. Thus the attraction of insulating assets from lawsuits and the steady growth in offshore trusts and foundations, even if they are tax-neutral and provide little or no privacy what so ever.
It is not surprising that some people, caught unwittingly in the grip of litigation, may feel that the Statue of Liberty is right where it should be: offshore.
That's where an increasing number of people, especially Americans, are seeking the protection which they feel they need. A lawsuit has been described as a machine which you go into as a pig and come out of as a sausage. Perhaps that explains why some pigs are flying to Panama.
Proper planning in Panama can save people from becoming sausages.
Derek Sambrook, Republic of Panama
E-mail: marketing@trustserv.com
Web site: http://www.trustserv.com/index1.htm
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* OFFSHORE *
JERSEY, GUERNSEY INCREASE APPEAL
Channel Islands clean up improves business. LINK:
http://www.thelawyer.com/cgi-bin/item.cgi?id=112544&d=122&h=24&f=46
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TAX HAVEN ATTACKER
Convicted money launderer tells all -- if you can believe him. LINK:
http://www.thelawyer.com/cgi-bin/item.cgi?id=112531&d=122&h=24&f=46
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DON'T CALL US A TAX HAVEN
MALTA doesn't like that name.
LINK: http://www.independent.com.mt/daily/newsview.asp?id=28187
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TOO BIG E.U. MAY IMPLODE
Bolkestein warns EU growth will create 'chaos.' LINK:
http://news.ft.com/cms/s/1e446ea0-205c-11d9-af19-00000e2511c8.html
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* WEALTH *
CANADIAN SURPLUS MAY ALLOW TAX CUTS
OTTAWA: Weak US dollar helps goverment revenues.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17614
* The US dollar is defying both expectations and gravity. LINK:
http://www.nytimes.com/2004/10/17/business/yourmoney/17port.html
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CORPORATE TAX AVOIDANCE PHONY REPORT
Just make up the 'facts" if you don't have them. LINK:
http://www.heritage.org/Research/Taxes/wm586.cfm?CFID=232947&CFTOKEN=15151932
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PRECIOUS METALS RACKET BROKEN UP
LONDON: Police break up illegal trade in precious metals. LINK:
http://news.ft.com/cms/s/caa95d7a-1ebf-11d9-9015-00000e2511c8.html
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EROSION OF PROPERTY RIGHTS
Government should be a protector, not a violator of rights. LINK:
http://www.aynrand.org/site/News2?page=NewsArticle&id=10323&news_iv_ctrl=10
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* PRIVACY & RIGHTS *
F.B.I. USING TREATIES TO DODGE PRIVACY LAWS
Treaties used to confiscate web servers threaten media, privacy.
LINK: http://www.antiwar.com/ips/weinberg.php?articleid=3801
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"LET ME READ YOUR CHIP, PLEASE!'
ACLU urges Virginia not to put RFIDs in driver's licenses.
LINK: http://www.aclu.org/Privacy/Privacy.cfm?ID=16661&c=39
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SOME THOUGHTS ON MARTHA STEWART
From Sovereign Society Council of Experts member, Harry Browne.
LINK: http://www.lewrockwell.com/orig/browne3.html
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
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